2022 年第一季度报告 证券代码：688299 证券简称：长阳科技 宁波长阳科技股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | | 本报告期比上年同 期增减变动幅度(%) | | | --- | --- | --- | --- | --- | | 营业收入 | | 285,035,835.18 | | 2.19 | | 归属于上市公司股东的净利润 | | 35,351,926.28 | | -18.09 | | 归属于上市公司股东的扣除非 经常性损益的净利润 | | 2 ...

证券代码：688299 证券简称：长阳科技 公告编号：2021-069 宁波长阳科技股份有限公司 关于参加"宁波辖区 2021 年度上市公司投资者网上集体 接待日主题活动"的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 为进一步加强宁波辖区上市公司与投资者特别是中小投资者的沟通交流，增 强上市公司的透明度，提升公司治理水平，促进公司规范运作，在宁波证监局指 导下，宁波上市公司协会将联合深圳市全景网络有限公司共同举办"心系投资者 携手共行动"——宁波辖区 2021 年度上市公司投资者网上集体接待日主题活动。 活动于 2021 年 11 月 18 日下午 15:00-17:00 举行，平台登录地址为： https://rs.p5w.net/。 届时，公司高管人员将参加本次活动，通过在线文字互动交流形式，就公司 治理、发展战略、经营状况、可持续发展等投资者所关心的问题，与投资者进行 沟通与交流。欢迎广大投资者踊跃参与！ 特此公告。 宁波长阳科技股份有限公司董事会 2021 年 11 月 13 日 ...

2021 年第三季度报告 证券代码：688299 证券简称：长阳科技 宁波长阳科技股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 比上年同 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 354,287,057.05 | 10.72 | 952,883,719.46 | 29.47 ...

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 20%[14]. - The net profit attributable to shareholders was RMB 100 million, up 15% compared to the same period last year[14]. - The company's operating revenue for the first half of 2021 was ¥598,596,662.41, representing a year-on-year increase of 43.90% due to strong demand for reflective films and significant sales growth in optical base films and Mini LED reflective films[21]. - The net profit attributable to shareholders for the same period was ¥91,681,882.06, reflecting a 19.01% increase compared to the previous year[21]. - The net cash flow from operating activities increased by 42.13% to ¥102,850,348.67, primarily due to improved management of accounts receivable and increased cash received from sales[22]. - Basic earnings per share for the first half of 2021 were ¥0.32, an increase of 18.52% year-on-year[21]. - The company achieved a total R&D investment of ¥44,013,121.88, representing a 127.83% increase compared to ¥19,318,693.44 in the previous period[45]. - The company achieved a revenue of 598.60 million yuan, a year-on-year increase of 43.90%, and a net profit of 91.68 million yuan, up 19.01% year-on-year, with a net profit growth of 46.53% after excluding stock incentive costs[62]. Research and Development - The company is investing RMB 50 million in R&D for new technologies, focusing on advanced materials and applications in the electronics sector[14]. - The company's R&D investment as a percentage of operating revenue rose to 7.35%, an increase of 2.71 percentage points compared to the previous year[21]. - The company has established stable partnerships with key suppliers for raw materials, ensuring a reliable supply chain for production[32]. - The company employs a comprehensive R&D management system, including collaboration with external research institutions to enhance its R&D capabilities[31]. - The company has achieved a reflectivity rate of over 97% for its reflective films, placing it at an international leading level compared to competitors[53]. - The company has developed new technologies for multi-layer polymer films, enhancing their thickness uniformity and solvent resistance[42]. - The company has implemented advanced coating techniques to improve the optical performance and surface adhesion of its films[42]. - The company has made significant advancements in the design and production of high-performance liquid crystal polymer films, achieving low wrinkles and high strength[42]. - R&D expenses increased by CNY 24.69 million, a year-on-year growth of 127.83%, primarily due to an increase in personnel costs and new product development investments[47]. Market Expansion - Future outlook indicates a projected revenue growth of 25% for the second half of 2021, driven by new product launches and market expansion strategies[14]. - Market expansion efforts include entering two new international markets, aiming for a 10% increase in overseas sales by the end of 2021[14]. - The company is actively expanding its market presence through a "triangular" business development model, optimizing internal processes[69]. - The company is expanding its market presence in Asia, targeting a 30% increase in market share within the next two years[115]. - The company plans to introduce three new product lines in Q3 2021, targeting a 15% increase in market penetration[14]. Sustainability and Environmental Commitment - The management highlighted a commitment to sustainability, with plans to reduce production waste by 20% by the end of 2021[14]. - The company produces specialty functional membrane products, which are environmentally friendly thermoplastic materials, generating minimal waste during production[108]. - The solid waste recycling rate is 100%, with no heavy pollution incidents reported during production[108]. - The company adheres to national and local environmental protection laws, with pollutant discharge concentrations meeting regulatory standards[108]. - The company has implemented a series of environmental protection measures to minimize production's impact on the environment[108]. Strategic Initiatives - The company has completed a strategic acquisition of a local competitor, enhancing its market share by 5%[14]. - The company is exploring strategic acquisitions to bolster its technology capabilities, with a budget of $500 million allocated for potential deals[115]. - The company is considering strategic acquisitions to enhance its competitive position, with a budget of 300 million earmarked for potential mergers and acquisitions[116]. - The company is implementing an integrated product development (IPD) process to improve new product development efficiency[65]. Shareholder and Governance - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[104]. - Major shareholders, including Jin Yadong and Tao Chunfeng, pledged to adhere to the commitments outlined in the prospectus, ensuring long-term compliance[120]. - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[124]. - The company has committed to avoiding any conflicts of interest and ensuring independent governance practices[120]. Financial Management - The company’s short-term borrowings were fully repaid, indicating a shift in financial strategy[86]. - The company has not reported any capitalized R&D investments during the period[46]. - The company has not provided any financial assistance or loans to incentive recipients under the incentive plan, maintaining financial integrity[122]. - The company has not faced any penalties or corrective actions related to legal violations by its directors, supervisors, or major shareholders during the reporting period[124].

2021 年第一季度报告 公司代码：688299 公司简称：长阳科技 宁波长阳科技股份有限公司 2021 年第一季度报告 1 / 22 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 8 | | 四、 | 附录 10 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 22 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 2,229,588,242.94 2,181,807,536.73 2.19 归属于上市公司股东的 净资产 1,803,574,267.19 1,749,697,836.91 3.08 年初至报告期末 上年初至上年报告期 末 比上年同期增减(%) 经营活动产生的现金流 量净额 15,235,371.67 12,256,810.01 24.30 年初至报告期末 上年初至上年报告期 末 比上年同期增减 （%） 营业收入 278,939,854.48 174,367,607.10 59.97 归属于上市公司股东的 净利润 43,161,551.12 35,188,10 ...

Financial Performance - In 2020, the company's total revenue increased by 14.81% year-on-year, while net profit grew by 23.69%[4]. - The company's operating revenue for 2020 was CNY 1,045,044,542.99, representing a year-on-year increase of 14.81% compared to CNY 910,261,053.81 in 2019[26]. - Net profit attributable to shareholders increased by 23.69% to CNY 176,977,360.24 in 2020, up from CNY 143,077,038.17 in 2019[26]. - The net cash flow from operating activities surged by 103.41% to CNY 265,886,171.38, compared to CNY 130,713,158.20 in the previous year[26]. - The company's net assets attributable to shareholders at the end of 2020 were CNY 1,749,697,836.91, an increase of 8.54% from CNY 1,612,093,472.22 in 2019[26]. - The gross profit margin for optical base films improved from 9.29% in 2019 to 20.19% in 2020, contributing to the increase in net profit[27]. - Basic earnings per share for 2020 were CNY 0.63, a slight decrease of 1.56% from CNY 0.64 in 2019[27]. - The weighted average return on equity decreased to 10.57% in 2020, down from 17.31% in 2019, indicating a decline in profitability[27]. - The company reported a decrease in trading financial assets from CNY 605 million to CNY 400 million, a reduction of CNY 205 million[34]. - The company reported a significant government subsidy of CNY 21,072,338.38 in 2020, up from CNY 17,044,466.45 in 2019[32]. Research and Development - Research and development expenses accounted for 5.05% of operating revenue in 2020, up from 4.19% in 2019, indicating a focus on innovation[27]. - The company is prepared for the commercialization of Mini LED technology, which is expected to be a significant market opportunity in 2021[6]. - The company aims to transition from being a technology follower to a technology leader, focusing on innovative and superior products through its research institute[5]. - The company has established long-term partnerships with research institutions to enhance its R&D capabilities[44]. - The company has developed over 30 models of reflective films for LCD displays, which are currently its leading products[39]. - The company has achieved international leading levels in core technologies related to reflective films and optical base films through years of independent research and development[62]. - The R&D focus includes enhancing optical base films through upstream raw material control and process optimization, leading to improved product quality[66]. - The company has invested a total of CNY 4,553.27 million in various R&D projects, with a cumulative investment of CNY 13,274 million[74]. - The R&D team has increased to 109 members, with a total salary of CNY 1,605.96 million, reflecting a commitment to enhancing technical capabilities[80]. - Eight new patents were granted during the reporting period, bringing the total to 107 granted patents[67]. Market and Product Development - The company recognizes the potential of the optical base film market, which is valued at several hundred billion yuan, and is committed to expanding its presence in this sector[4]. - The company aims to achieve its "Ten Years, Ten Films" development goal, focusing on new display, semiconductor, and 5G applications[42]. - The company is actively developing new products such as Mini LED reflective films and has achieved small batch sales for some of these products[54]. - The company is focusing on the industrialization of high-value functional films, with a total investment of CNY 314.75 million in the pilot operation phase[73]. - The company is focused on optimizing production processes for optical base films, improving key performance indicators such as haze and transmittance through continuous equipment upgrades[55]. - The company is implementing business process reengineering and organizational changes to enhance operational efficiency and support strategic goals[100]. - The company plans to transition from providing a limited range of products to offering comprehensive solutions, enhancing product performance and variety to meet diverse customer needs[158]. - The company is actively exploring new technologies and business models in the display sector, particularly in the context of the growing demand for large-size LCDs driven by consumer upgrades[57]. Dividend and Shareholder Policies - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, totaling approximately 28.26 million yuan (including tax) based on the total share capital of 282,568,577 shares as of December 31, 2020[9]. - The cash dividend policy prioritizes cash distributions, with a minimum of 10% of distributable profits allocated for dividends, depending on the company's financial conditions[165]. - The company will implement differentiated cash dividend policies based on its development stage and capital expenditure needs, with minimum cash dividend ratios ranging from 20% to 80%[165]. - The company has maintained a clear and compliant dividend policy, ensuring the protection of minority shareholders' rights[167]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[169]. Legal and Compliance Matters - The company has been involved in significant litigation matters during the reporting period, with ongoing cases that have not been disclosed in temporary announcements[190]. - The company faced a lawsuit regarding intellectual property rights, with the Beijing Intellectual Property Court ruling in favor of the company[191]. - The company has not faced any situations that would lead to delisting or bankruptcy restructuring[190]. - The company continues to comply with all regulatory requirements and has no pending issues with its auditors[189]. - The company has established a two-year compliance period for shareholders after the lock-up period ends[177]. Strategic Initiatives - The company is implementing an equity incentive plan to attract and retain talent, aligning interests among shareholders, the company, and core team members[102]. - The company announced a strategic acquisition of a competitor for $200 million, expected to close in Q4 2023[175]. - The management emphasized a focus on sustainability initiatives, allocating $10 million for eco-friendly practices in the upcoming fiscal year[175]. - The company plans to enter two new international markets by the end of 2024, aiming for a 15% increase in global sales[175]. - The company is committed to fulfilling the dilution compensation measures related to its initial public offering, as detailed in the prospectus on the Shanghai Stock Exchange[181].

Financial Performance - Operating revenue for the first nine months reached CNY 735,983,432.65, a 16.55% increase year-on-year[6] - Net profit attributable to shareholders rose by 38.44% to CNY 135,163,589.84 for the first nine months[6] - Cash flow from operating activities increased by 25.86% to CNY 150,377,090.53 year-to-date[6] - Basic earnings per share increased by 4.35% to CNY 0.48[6] - The company reported a net profit increase, with retained earnings rising to CNY 344,560,661.05 from CNY 254,608,043.53, reflecting a growth of about 35.33%[24] - Total operating revenue for Q3 2020 reached ¥319,993,287.98, a 25% increase from ¥256,076,762.53 in Q3 2019[31] - Net profit for Q3 2020 was ¥58,124,812.30, representing a 43% increase compared to ¥40,604,591.85 in Q3 2019[34] - The net profit for the first three quarters of 2020 was ¥139,223,286.52, up 42.7% from ¥97,474,010.17 in the same period of 2019[38] Assets and Liabilities - Total assets increased by 3.74% to CNY 2,132,315,261.86 compared to the end of the previous year[6] - The total amount of prepayments increased by 155.81% to RMB 29,728,340.70, primarily due to higher advance payments for raw materials and equipment[15] - Total liabilities amounted to CNY 430,251,835.20, down from CNY 443,412,538.67, showing a decrease of about 2.96%[24] - Current liabilities decreased to CNY 365,295,793.59 from CNY 379,466,535.25, a reduction of approximately 3.03%[24] - The company held trading financial assets of RMB 365,252,000.00, down 39.63% from RMB 605,000,000.00 at the end of 2019[15] - The company's total assets at the end of Q3 2020 were significantly higher, reflecting a strong growth trajectory[39] - The total current assets as of Q3 2020 amounted to CNY 1,336,257,314.05, reflecting stable liquidity[48] - Total current liabilities were approximately $383.99 million as of the third quarter of 2020[53] Cash Flow - The net cash flow from operating activities for the first three quarters of 2020 was CNY 576,697,340.82, an increase of 20.3% compared to CNY 479,578,185.08 in the same period of 2019[44] - The company reported a net cash inflow from investment activities of ¥228,502,721.90 in the first three quarters of 2020, compared to a net outflow of ¥43,204,879.07 in the same period of 2019[42] - The cash flow from operating activities for Q3 2020 was CNY 152,073,833.82, an increase from CNY 134,072,670.48 in Q3 2019, showing improved operational efficiency[45] - The cash outflow from financing activities in Q3 2020 was CNY 308,709,989.11, up from CNY 167,101,628.77 in Q3 2019, reflecting increased financial activity[45] Research and Development - R&D expenditure as a percentage of operating revenue increased by 0.72 percentage points to 4.69%[7] - Research and development expenses increased by 37.70% to RMB 34,484,907.35 from RMB 25,043,746.83 year-on-year, reflecting higher investment in product development[15] - R&D expenses for Q3 2020 amounted to ¥15,166,213.91, a 32% increase from ¥11,429,735.35 in Q3 2019[31] Shareholder Information - The total number of shareholders reached 12,853 by the end of the reporting period[11] - The top shareholder, Jin Yadong, holds 16.06% of the shares, totaling 45,378,922 shares[11] Investment Income - The company reported a significant increase in investment income, which surged by 1,238.25% to RMB 10,064,307.65 from RMB 752,051.51 in the previous year[15] - The company reported an investment income of ¥5,392,387.53 in Q3 2020, compared to a loss of ¥48,003.29 in Q3 2019[34] Equity and Return Metrics - The weighted average return on equity decreased by 6.63 percentage points to 8.14%[6] - Shareholders' equity rose to CNY 1,702,063,426.66, compared to CNY 1,612,093,472.22, representing an increase of approximately 5.57%[24] - The company's total equity as of Q3 2020 was CNY 1,612,093,472.22, indicating a stable equity position[50]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥415.99 million, representing a year-on-year increase of 10.81% compared to ¥375.41 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached approximately ¥77.04 million, marking a significant increase of 35.08% from ¥57.03 million in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥70.23 million, which is a 37.50% increase from ¥51.08 million in the same period last year[19]. - The net cash flow from operating activities was approximately ¥72.36 million, showing a decrease of 11.49% compared to ¥81.76 million in the previous year[19]. - As of the end of the reporting period, the net assets attributable to shareholders were approximately ¥1.64 billion, reflecting a 1.98% increase from ¥1.61 billion at the end of the previous year[19]. - The total assets of the company were approximately ¥2.06 billion, which is a slight increase of 0.36% from ¥2.06 billion at the end of the previous year[19]. - Basic and diluted earnings per share remained stable at CNY 0.27, with a 4.17% increase in basic earnings per share after excluding non-recurring gains and losses to CNY 0.25[20]. - The weighted average return on equity decreased by 4.21 percentage points to 4.69%, and the return on equity after excluding non-recurring gains and losses decreased by 3.70 percentage points to 4.27%[20]. Research and Development - Research and development expenses accounted for 4.64% of operating income, an increase of 1.01 percentage points compared to the same period last year[20]. - The company is committed to continuous technological iteration and product development to transition from a technology follower to a technology leader[26]. - The company has achieved international leading levels in core technologies related to optical and microstructure design, formulation design, manufacturing, and precision coating technology for specialty functional films[37]. - The company has applied for a total of 196 invention patents and was granted 101 patents, including 3 international patents as of June 30, 2020[39]. - The total R&D investment amounted to ¥1,931.87 million, representing 4.64% of the operating revenue[40]. - The company has established partnerships with research institutions to advance its technological capabilities[39]. - The company has a well-established R&D mechanism, focusing on independent and collaborative research to enhance product development[50]. Market Strategy and Operations - The company aims to become a leading functional film company in China and internationally, with a ten-year goal of achieving "Ten Films" in market share[26]. - The company focuses on R&D-driven operations, maintaining a "R&D + Procurement + Production + Sales" model to ensure quality and customer satisfaction[27]. - The sales model primarily relies on direct sales, with a focus on building long-term relationships with clients such as Samsung and LG[32]. - The company is actively developing Mini LED reflective films and vacuum-formed reflective films to meet customer demands, with continuous improvements in optical and mechanical properties of optical base films[39]. - The company is focusing on expanding its market share in the reflective film sector, with increased cooperation with major clients like Samsung and LG, leading to enhanced customer loyalty[60]. Financial Management and Investments - The company is committed to the timely and effective use of raised funds for investment projects, which will help expand production capacity and optimize product structure[64]. - The company has invested a total of RMB 4,288.27 million in various R&D projects, with a current period investment of RMB 1,755.14 million[42]. - The company is currently in the customer validation phase for several products, including flexible circuit board release films and high-performance reflective films[42]. - The company has committed to a share buyback program, intending to repurchase up to 5% of its outstanding shares[99]. Legal and Compliance - The company is currently involved in a patent litigation case with Toray Industries, which could affect its operations if it leads to reduced sales or partnerships[68]. - The company has committed to fully bear any costs arising from the lawsuit, ensuring no financial loss to the company[102]. - The company has not faced any non-standard audit reports in the previous fiscal year[104]. - The company’s governance and independence measures are in place to avoid conflicts of interest[101]. Environmental and Social Responsibility - The company maintains a 100% recycling rate for solid waste during production, adhering to environmental protection regulations[113]. - The company has signed a poverty alleviation agreement with Baidu Village, investing CNY 100,000 annually for three years to support the development of registered impoverished households[111]. - The company continues to focus on environmental protection as a core aspect of its operations[113]. Shareholder Information - The total number of shares is 282,568,577, with a decrease of 3,074,252 shares in restricted shares due to the release of lock-up shares[119]. - The largest shareholder, Jin Yadong, holds 45,378,922 restricted shares, which will be released on November 6, 2022[122]. - The report indicates that there are no preferred shareholders with restored voting rights as of the end of the reporting period[125]. - The total number of ordinary shareholders as of the end of the reporting period is 14,628[125].

Financial Performance - Net profit attributable to shareholders was CNY 35,188,103.85, representing an increase of 116.75% year-on-year[6]. - Operating revenue reached CNY 174,367,607.10, reflecting an 18.14% increase compared to the same period last year[6]. - Basic earnings per share increased by 50.00% to CNY 0.12[6]. - Operating profit increased by 101.58% to CNY 37,685,938.95, driven by higher operating income and gross margin[16]. - The company's net profit for Q1 2020 was CNY 35,188,103.85, representing a 116.75% increase compared to the same period last year[16]. - Total operating revenue for Q1 2020 was CNY 174,367,607.10, an increase of 18.1% compared to CNY 147,599,255.58 in Q1 2019[30]. - Earnings per share for Q1 2020 were CNY 0.12, compared to CNY 0.08 in Q1 2019[31]. - The company achieved a total comprehensive income of CNY 35,261,998.74, compared to CNY 16,039,148.22 in the previous year[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,051,515,727.50, a decrease of 0.19% compared to the end of the previous year[6]. - The total assets for the company were CNY 2,052,315,135.57 in Q1 2020, slightly down from CNY 2,055,067,329.90 in Q1 2019[30]. - Total liabilities decreased from ¥443,412,538.67 to ¥404,090,698.58, a reduction of about 8.87%[24]. - Total liabilities decreased to CNY 409,918,036.27 in Q1 2020 from CNY 447,932,229.34 in Q1 2019, a reduction of 8.5%[30]. - The company's equity increased from ¥1,612,093,472.22 to ¥1,647,425,028.92, an increase of approximately 2.18%[24]. - Total equity increased to CNY 1,642,397,099.30 in Q1 2020 from CNY 1,607,135,100.56 in Q1 2019, an increase of 2.2%[30]. Cash Flow - The net cash flow from operating activities was CNY 12,256,810.01, down 53.78% year-on-year[6]. - The company reported a decrease in cash flow from operating activities, with a net cash flow of CNY 12,256,810.01, down 53.78% from the previous year[17]. - In Q1 2020, the company reported a net cash flow from operating activities of CNY 12,256,810.01, a decrease of 53.8% compared to CNY 26,518,900.79 in Q1 2019[37]. - The company recorded a net cash flow from investing activities of CNY 23,827,279.78, a turnaround from a negative cash flow of CNY -91,494,830.79 in the same quarter last year[39]. - The net cash flow from financing activities was CNY -37,473,362.80, worsening from CNY -6,104,879.24 in the previous year[38]. Research and Development - Research and development expenses accounted for 5.42% of operating revenue, an increase of 1.74 percentage points[8]. - Research and development expenses rose by 74.25% to CNY 9,453,404.99, indicating increased investment in innovation[16]. - Research and development expenses for Q1 2020 were CNY 9,453,404.99, up 74.4% from CNY 5,425,306.99 in Q1 2019[30]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,788[12]. - The top shareholder, Jin Yadong, held 16.06% of the shares, totaling 45,378,922 shares[12]. Government Support - The company received government subsidies amounting to CNY 4,606,161.07, including a special subsidy of CNY 3 million from Jiangbei District[9]. Inventory and Current Assets - Inventory increased significantly from ¥84,642,464.44 to ¥102,307,988.42, representing a growth of approximately 20.83%[22]. - Current assets totaled ¥1,337,380,906.24, compared to ¥1,336,257,314.05 at the end of 2019, indicating a marginal increase[22]. - Cash and cash equivalents decreased from ¥223,222,517.76 to ¥198,597,260.49, a decline of approximately 11.05%[22]. - Accounts receivable rose to ¥298,445,973.14 from ¥305,282,299.23, reflecting a decrease of about 2.75%[22]. Future Outlook - Future guidance indicates a commitment to maintaining financial stability while exploring strategic acquisitions and partnerships[42].

Company Performance - In 2019, the company achieved a global market share of 1st place in optical reflective film products and completed its IPO on the Sci-Tech Innovation Board[4]. - The company reported a strong performance growth in 2019, with continuous improvement in market share for its main products[4]. - The company's operating revenue for 2019 was CNY 910,261,053.81, representing a year-on-year increase of 31.72%[26]. - Net profit attributable to shareholders increased by 60.99% to CNY 143,077,038.17, driven by higher sales of reflective films and functional film pieces[28]. - Quarterly revenue for Q4 2019 reached CNY 278,771,907.28, showing a consistent increase throughout the year[30]. - The company achieved a total operating revenue of 910.26 million yuan, representing a year-on-year growth of 31.72%, and a net profit of 143.08 million yuan, up 60.99% from the previous year[86]. - The main business revenue from reflective films and functional films increased by 33.91%, driven by a significant order increase, particularly a 159.24% rise in sales to Samsung[109]. - The gross profit margin for the main business was 34.09%, an increase of 5.49 percentage points from the previous year[110]. Research and Development - The company invested 4.19% of its operating revenue in research and development, up from 3.96% in 2018[27]. - The company has filed a total of 188 invention patents, with 99 granted, including 3 international patents[67]. - The company has made significant progress in R&D projects, with a total investment of 32.242 million RMB across various projects, including high-performance TV reflective films and optical polyester release films[72]. - The company has established a robust R&D framework, continuously optimizing production parameters to achieve high-performance products[64]. - The company has focused on the development of new materials and technologies to improve the efficiency of solar cell components[63]. - The company plans to increase R&D investment in optical base films, targeting a shift in application areas to include diffusion films, release films, protective films, pre-coated films, and advertising printing markets, with an emphasis on improving revenue and profitability[158]. Strategic Goals and Market Focus - The company aims to become a leading functional film company in China and internationally, focusing on "import substitution" and "world-leading" strategies over the next decade[37]. - The company will focus on three main areas: new display technologies, semiconductors, and 5G, as part of its strategic goal of "Ten Films in Ten Years"[4]. - The company aims to enhance its R&D capabilities and develop comprehensive solutions to meet diverse customer needs, transitioning from offering a limited range of products[155]. - The company is committed to developing key functional film products that are heavily reliant on imports, focusing on future technology frontiers[158]. Financial Management and Investments - The company raised a total of RMB 968,504,562.00 through its initial public offering, with a net amount of RMB 856,718,202.80 after expenses, which will support future development[94]. - The company achieved a total R&D investment of 38.1461 million RMB, accounting for 4.19% of its operating revenue[69]. - The company has invested CNY 180 million in bank wealth management products using its own funds and CNY 625 million using raised funds, with a remaining balance of CNY 605 million[191]. - The company has engaged in structured deposits with Guangfa Bank, totaling RMB 50 million with an annualized return of 4.20%, and the actual return was RMB 529,315.07, which has been fully recovered[193]. Risk Management - The company faces risks related to technological innovation, as the demand for new products and technologies in downstream applications continues to rise[97]. - The company is exposed to potential risks from technology substitution, particularly if OLED technology matures and replaces LCD technology[98]. - The rapid expansion of the company's business scale post-IPO may introduce management risks if not properly addressed[102]. - There are risks that the fundraising projects may not achieve the expected benefits due to market changes and other factors[103]. Corporate Governance and Compliance - The company assures that there are no non-operating fund occupations by controlling shareholders or related parties[12]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its IPO[168]. - The company has established a clear framework for share transfer and management to ensure compliance with regulatory requirements[168]. - The company has confirmed that there are no significant impacts from the completion of performance commitments on goodwill impairment testing, which is marked as not applicable[179]. Community Engagement and Social Responsibility - The company has committed to a poverty alleviation program, providing RMB 100,000 annually for three years to support local industry development in Qianxinan Prefecture[199]. - The company donated RMB 100,000 through the Ningbo Guangcai Charity Promotion Association for projects related to poverty alleviation in Qianxinan Prefecture[199]. - The company plans to continue its poverty alleviation efforts in accordance with signed agreements, ensuring ongoing support for targeted communities[200].